Fantasy Sports is one of the growing industries in India and it has taken rapid growth in the last couple of years. Since the launch of Dream11, so many fantasy platforms were launched and it changed the entire system of the sports industry.
The early phase of impact in India The biggest change came in cricket and It become a huge success. The impact of the fantasy sports game in India is huge and the even UK also accepts that India is going to be the biggest hub of fantasy in the future. UK started the trend of fantasy through their biggest sporting event Premier League and FPL set a big standard among football fans and even Indians connected with Premier League after playing FPL. This big growth gave the Indian market to big reason to boost fantasy in India and Dream11 was the first company to do it commercially. Later, Supreme Court also considered fantasy a game of skills. It has changed the perspective of fans towards the game and user base is increasing high each year. Pandemic and financial crisis are not putting stop alarm on fantasy sports. Impact of fantasy sports through numbers and revenue It has left a huge impact on sports and it’s a positive impact. We can understand this through some numbers based on the survey of the Federation of Indian Fantasy Sports (FIFS). According to the reports, 87% of users who engage in fantasy sports are involving more into depth analysis of the game and they’re investing more time into research and gathering information. Users are putting effort to plan the strategy while playing fantasy sports. It has also increased the viewership and over 48% of fantasy sports users watch every game and it doesn’t matter the match is irrespective of their favourite team or country. If they’re involving in any game, they will surely invest their time to stream this. This is the big reason Dream11 came up with the idea of Fan Code which streams so many matches, especially for fantasy users. In 2020, few matches were from Oman, Spain, and other countries which had no good relation with cricket. Growth of the market and revival of sports industry during the pandemic Even local competitions were started to gain attention through fantasy sports. Pro users don’t leave a single match and even in 2020, users explored other games such as Basketball and Baseball. Cricket was not happening during the covid so they invested their time in other sports. If we discuss the growth in the revenue of fantasy in the financial year of 2020, you will see a drastic change compared to previous years. It helped the sports industry to take part in the country’s economy. The gross revenue of fantasy sports stands at 2400 crores in 2020 compared to 920 crores in 2019. It means the revenue got triple in the previous year according to the FIFS-KPMG 2020 report. We know about the tax deduction which increased in last one year. Fantasy platforms deduct a specific tax amount from user’s winnings. The tax earnings deducted from winnings in 2020 reached to 250 crores, compared to 93 crores in the financial year of 2019. Building opportunities through fantasy sports Opportunities were also built due to fantasy sports platforms and those who had great knowledge about the game got jobs in the sports sector. The sports industry raised its revenue and values which helped sponsors and brands to invest more money into it. Content-based companies were formed and other startups were also launched to promote sports such as online scoring apps and websites, e-commerce section to sell merchandise and other sports stuff, online streaming platforms, etc. Companies are coming in large numbers to sell their produces through fantasy platforms. Don’t forget that Dream11 was the title sponsor of the Indian T20 League in the last season. Conclusion Fantasy sports platforms created a big impact in India and it will also help other games like Football, Basketball, and Kabaddi. The bigger user base, high revenue, and big reach of market value are the signs for a better future of the sports industry. The impact is going to be bigger and more than 30 crores users will watch online sports this year.
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India is the biggest market for fantasy and it’s rising its user-base on a big level in comparison to other countries. Inspiration came through FPL in England and India adapted that formula very well but its success came through India’s most popular sports, Cricket. More than 80 percent of users play cricket comparing to other sports. We have seen a monumental growth of fantasy cricket in India.
Role of cricket in the fantasy market Some big tournaments like Indian T20 League have played a vital role to add revenue for fantasy platforms. No doubt, the league system in India for each sport like Kabaddi and Football helped this market to grow but the success of fantasy cricket is huge. The market has tightened its grip through fantasy as cricket is everywhere in India and the industry looked for an extra revenue source through advertisements, merchandising, and fan clubs. The best part of the popularity is Indian fans have adapted to the formula of fantasy cricket. Around 70% of cricket fans in India are pretty familiar with the fantasy and the number will rise with every year. There are more than 10 million people in India who are connected to the fantasy market and if we look at cricket only, the number is approx. 7 million. The growth rate of fantasy gaming in India is about 30% to 50% every single year and during the time of the pandemic, 80-100 million of users participated in fantasy sports. It happened during the Indian T20 League 2020 and new fantasy platforms were also launched during this phase so the user base has been increased. Future trends and market’s impact on fans Internet users will rise and it will directly impact the fan base of fantasy sports. Experts even expected that the number of users will once cross 500 million and it’s not a surprising thing. Fantasy platforms would expect some big revenue in upcoming years because some big cricketing events are lined up. In the next 3-4 years, three cricket world cups will be held and India will host two in 2021 and 2023. We see a major impact during the main season of a big event and Indian T20 League 2020 was a major example. Trends have also changed due to the ongoing situations. In the last 12 months, the majority of Indians spent their time at home due to pandemic, and internet demand has been raised. KPMG handled a survey on fantasy and 77% of users showed their interest in cricket comparing to other games. Assistance of fans and their values to industry The popularity of cricket in the Indian sub-continent is a big thing but there are other points from the user perspective which make fantasy cricket more popular. The audience gets the chance to showcase their skills and cricket is the only game that has been mastered by lot of Indian fans. There are blind cricket followers and the power of social media has also given them quality knowledge. They’re not watching cricket for the emotions but are looking for opportunities. Fantasy cricket is spreading its market all around India and producing jobs for cricket fans. We had seen this trend mostly in Europe and especially in England, where Premier League and other Football websites added a big boost to the sports industry. The more user will come, the more startups and more opportunities will release. Opportunities and involvement of the audience to the game Fantasy cricket offered a believe to Indian fans that they can also be a part of a cricket match. They feel more real and more engaged to the match. The fantasy points system has also played a role to add curiosity for the user and he/she expect the player to perform according to the fantasy points. It’s a better thing for the rise of the game because the audience showed their involvement in the game. With the rise of fantasy cricket, users are now investing their time in non-Indian action and some other leagues happening outside India. Users can feel their passion as like occupation and they can look for opportunities in the sports industry and can play fantasy cricket online. Conclusion: This is the phase where we can say that India’s fantasy industry is booming and it will achieve milestones in the next five years. The fantasy industry is expected to become a 5 billion dollar industry this year. Fans are crazy for cricket and broadcasters will do the rest of the job by promoting fantasy platforms. The fantasy industry is also understanding the values of their fan base and they’re also investing a big amount in their marketing and promotion. Fantasy Sports has evolved and become a hot topic among sports fans. Their perspective has been changed in the last two-three years. There is another audience who has no idea about fantasy and they still enjoy sports. Sometimes fantasy takes place when fans get busy in any biggest sporting event.
In India, the Indian T20 League and World Cup attract more audiences towards fantasy. Fantasy cricket game has been developed and credit goes to Football which was part of fantasy in the last one decade as well. In fantasy cricket league, you just need to make a team based on the player’s skills. After picking 11 players, you have to select a captain and a vice-captain. Their points will be multiplied by 2 and 1.5. Let’s understand the advantages and disadvantages of fantasy sports. In India, we can categorize it by fantasy cricket considering the number of users. Advantages- - The biggest advantage is you get paid just watching your favourite game and making teams on fantasy sports app. You have a good knowledge of a game and you can make use of this knowledge by investing some amount. - You can control your investment. You can start from the very first level. If you’re new to this fantasy sports world so, you can even start with practice contests. - If you’re smart enough to crack the fantasy code, then you can make a big amount by investing a huge amount. The more you invest, the more you will get paid. - Knowledge of the fantasy sports game is key to success but it can also help you to create opportunities. There are several websites that help users to create their best team for fantasy and you can be part of them. It will help you to break into sports. - You have various sports where you can invest your time and money. The variety in games makes this sport engaging and exciting. - Fantasy creates more excitement while watching the game. It generates engagement and you can search for the change in the viewership of sports in the last two years. It has been increased due to fantasy. Users watch cricket matches because they had invested real money in fantasy apps. Disadvantages- - As we mentioned earlier, knowledge is key and this advantage might convert into a disadvantage in reverse angle. If you invest money without any knowledge, you can lose money. - Big investments can help you gain big but the ratio of winning matches with big investments is low. Even fantasy sports experts claimed that the chances of losing money increase when you invest big. - Competition has been raised and cracking the winning is not an easy task. You can lose lots of money by just trying to get big. Your pursuit of big winnings can hurt you financially. - Winning margin is not as good as you see. If you play three games with the same amount and win two, you will still get a very low amount because fantasy apps charge few amounts from your entry charge. You can only aim for a big in grand leagues. - Fantasy websites and apps are not reliable. You can make full trust on these platforms. They also have fake teams that enter even at the midway of the game so the priority to win big gets slightly low. |
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January 2022
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